BANK NIFTY Ready for a Big Move,EOD Analysis

  • As discussed in Last Analysis  Tommrow is very Important astro date bulls were able to close above 35800 can see move towards 35983/36200/36400. Bears will get active below 35729 for a move back to 35555/35342/35200. 2 Bullsih target done above 35800 and bank nifty continues its time correction trading within the mercury ingress range. Now next week we should see a break out in Bank nifty with effect of Astro date we had today. Bulls need to move above 36200 can see move towards 36387/36610/36900. Bears will get active below 35930 for a move back to 35765/35421/35150.

  • Bank Nifty Feb  Future Open Interest Volume is at 17.4 lakh with addition of 1.65 Lakh, with decrease in Cost of Carry suggesting LONG positions were ADDED today. Bank nifty Rollover cost @30980 closed above it.
  • 37000 CE is having highest OI @7.3 Lakh resistance at 36500 followed 37000.35000-37000 CE added 8.3 Lakh in OI so bears added position in the zone of 36000-36500.
  • 35000 PE is having highest OI @6 Lakh, strong support at 35000 followed by 34500 .34000-35000 PE added 12 Lakh OI so bulls making support in the range of 34500-35000.

Buy Above 36150 Tgt 36250,36387 and 36529 (Bank Nifty Spot Levels)

Sell Below 35999 Tgt 35888,35765 and 35555 (Bank Nifty Spot Levels)

2 thoughts on “BANK NIFTY Ready for a Big Move,EOD Analysis”

  1. 1) What should be the Stop Loss for Bank Nifty when it triggers for Intraday target
    2) What should be the Stop Loss for Bank Nifty when it triggers Trend Changer for Positional Traders
    Thanks

Leave a Reply